Intra-Day Market Moving News and Views -USD/JPY
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Intra-Day Market Moving News and Views
19 Jun 2017 02:00GMT
USD/JPY - 111.04.. Despite intra-day selloff from 111.42 to as low as 110.66 in New York morning after downbeat U.S. housing data and lower-than-expected consumer confidence, the greenback regained traction in early Asian trading on Monday after finding renewed buying earlier at 110.77 (New Zealand) and climbed back to 111.14 in Tokyo.
Intra-day gain due to rising Japanese stocks (N225 currently up 117 points at 20060) and a recovery in U.S. Treasury yields (benchmark 10-year yield currently at 2.1601% from Friday's low at 2.144%) suggests price will be en route to 111.60/70 after consolidation.
Bids are noted at 110.80-70 with stops below 110.60.
Offers are tipped at 111.15/25 with stops above 111.45.
Although no eco. data is due out today, pay attention to speech by New York President William Dudley who participates in roundtable with local business leaders at 11:45 GMT.
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